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Green Composites: Introduction

  • Green composites are made from biopolymers or renewable-resource-based polymers, which are reinforced with bio-fillers or natural fibers. Green composites are recyclable, renewable, and biodegradable. They significantly reduce the dependency on fossil fuel when used in interior applications.
  • Evolution to a circular and low-carbon economy, strong policy support for bio-economy from governments across the globe, and increasing consumer awareness about sustainable packaging are likely to drive the global green composites market in the near future
  • Of late, polypropylene composites reinforced with green or natural fibers have gained substantial popularity in the automotive sector. Reduced costs, distinct mechanical properties, lower density, and less energy consumption are advantages offered by natural fibers over manmade fibers.
  • Led by unique characteristics such as renewability, abundance, formability, cost-effectiveness and eco-friendly nature, green composites are anticipated to replace synthetic-fiber-based composites in several engineering applications during the forecast period

Key Drivers and Restraints of Green Composites Market

  • The global automotive industry aims to produce lightweight automotive parts with good mechanical properties in order to reduce CO2 emissions and enhance fuel efficiency. Automakers are currently shifting toward green composites based on wood fibers such as hemp, which are not only cost-effective in terms of production, but also tougher than steel.
  • The transportation sector is likely to prefer green composites, particularly for usage in interiors and exteriors of automobiles. Green polyamides, such as polyamide-12, serve as lightweight materials for metal replacement in the transportation sector. This helps achieve reduction in the overall vehicular weight. For instance, Rilsan HT, a polyphthalamide (PPA) -based biopolymer by Arkema, is a notable high-temperature polyamide to replace metals in automotive tubing.
  • Of late, increasing numbers of market participants have been substituting fossil-based feedstock by bio-based materials. Manufacturers are focused on incorporating biodegradable alternatives in their product lines in response to the rise in consumer demand for sustainable products. This is likely to drive the consumption of green composites during the forecast period.
  • Government regulations such as CAFE (Corporate Average Fuel Economy) are likely to provide significant potential for the green composites market during the forecast period

COVID-19 Impact Analysis on Automotive Industry

  • Governments of several countries across the globe have imposed stringent lockdowns to limit the spread of the coronavirus. Movement of individuals and economic activities, related to goods and services, has come to a halt because of lockdowns. Green composites impart excellent mechanical properties. They are lighter in weight. This makes them ideal for usage in door panels, package trays, dashboards, and trunk liners of cars. The Covid-19 pandemic has led to a rise in unemployment rate, as many companies have been facing liquidity crunch. Many companies have laid off their employees. As a result, potential car buyers have postponed or cancelled their decision to buy a new car. This has resulted in a decrease in sales of cars, thus hampering the green composites market.

Green Composites Market Segmentation

  • The global green composites market can be segmented based on fiber and end-use industry
  • In terms of fiber, the global green composites market can be bifurcated into wood fiber and non-wood fiber
  • In terms of end-use industry, the global green composites market can be segregated into transportation, building & construction, health care, consumer goods, energy, and others

Green Composites Market: Regional Segmentation

  • In terms of region, the global green composites market can be split into Middle East & Africa, Latin America, Asia Pacific, Europe, and North America
  • North America is likely to be a key region of the global green composites market during the forecast period. Increase in focus on reducing pollution and rise in utilization of agricultural waste are expected to offer lucrative opportunities for the green composites market in the region in the near future.

Key Players Operating in Global Market    

Global Green Composites Market: Research Scope

  • TECNARO GmbH
  • MCG Biocomposites LLC
  • GreenGran BN
  • UPM Biocomposites
  • Flex Form Technologies
  • ALPAS Srl
  • Procotex SA Corporation
  • Stemergy
  • Bast Fibers, LLC
  • Crailar
  • Green Composites Pvt. Ltd.

Global Green Composites Market, by Fiber

  • Wood Fiber
  • Non-wood Fiber

Global Green Composites Market, by End-use Industry

  • Transportation
  • Building & Construction
  • Health Care
  • Consumer Goods
  • Energy
  • Others

Global Green Composites Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.

TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.

Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:

Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.

Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.

Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Green Composites Market